bitcoinbastard224 (OP)
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December 14, 2020, 11:03:30 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
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dunfida
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December 14, 2020, 11:26:59 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
Just be calm and if needed then better to stop and mind of or check on where you do commit some mistakes. Observe your trades and realize on what you had done because if you do tend to make up trades with that kind of motive where you do need to chase up your losses then this will really just in result with some gambling-type like of trading or basically you arent on the right mind on making serious analysis or would able to follow it. So my suggestion? this is a trial and error thing and dont make use of large amounts into your trading positions. Try to find out on where you do made bad calls and learn from it.Dont rush up and dont get panic yet you can make use of smaller amounts- it isnt needed or necessarily to be big and if you do really like to trade then try to find out.
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bitcoinbastard224 (OP)
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December 14, 2020, 11:33:13 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
Just be calm and if needed then better to stop and mind of or check on where you do commit some mistakes. Observe your trades and realize on what you had done because if you do tend to make up trades with that kind of motive where you do need to chase up your losses then this will really just in result with some gambling-type like of trading or basically you arent on the right mind on making serious analysis or would able to follow it. So my suggestion? this is a trial and error thing and dont make use of large amounts into your trading positions. Try to find out on where you do made bad calls and learn from it.Dont rush up and dont get panic yet you can make use of smaller amounts- it isnt needed or necessarily to be big and if you do really like to trade then try to find out. Thanks. I'll have a look and make some notes. My only issue is that funds are low, so it's very difficult not to go 100% in on high leverage. It is possible that I feel a sense of urgency to get these funds back.
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exstasie
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December 14, 2020, 11:36:50 PM |
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I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
Stop what you're doing right now. Seriously. This kind of mindset will only result in you continually blowing up accounts and flushing all your money down the drain. It's the same way gambling addicts double down until they lose their shirt. The first thing you need to acknowledge is that trading is a grind. It is very difficult and most people are not cut out for it. It takes very hard work and extreme amounts of patience. That's essentially what markets are: impatient and emotional traders giving their money away to patient and well-capitalized traders. And this is why retail traders are always getting fleeced by institutions. Nobody is going to come into this thread and hand you a profitable trading system on a silver platter. That's just unrealistic. The vast majority of traders lose money and exit the market. With that in mind, what exactly is your trading system? Have you done any sort of back testing, anything that would suggest you are capable of beating the market? How do you manage risk and preserve trading capital? I don't mean to be a dick but it sounds like you have a long road of learning, hard work, and most of all steadfast risk management ahead of you before you have a chance at recouping those losses. The most important thing right now is to stop the bleeding. Stop trading. Start learning.
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bitcoinbastard224 (OP)
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December 15, 2020, 12:07:53 AM |
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I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
Stop what you're doing right now. Seriously. This kind of mindset will only result in you continually blowing up accounts and flushing all your money down the drain. It's the same way gambling addicts double down until they lose their shirt. The first thing you need to acknowledge is that trading is a grind. It is very difficult and most people are not cut out for it. It takes very hard work and extreme amounts of patience. That's essentially what markets are: impatient and emotional traders giving their money away to patient and well-capitalized traders. And this is why retail traders are always getting fleeced by institutions. Nobody is going to come into this thread and hand you a profitable trading system on a silver platter. That's just unrealistic. The vast majority of traders lose money and exit the market. With that in mind, what exactly is your trading system? Have you done any sort of back testing, anything that would suggest you are capable of beating the market? How do you manage risk and preserve trading capital? I don't mean to be a dick but it sounds like you have a long road of learning, hard work, and most of all steadfast risk management ahead of you before you have a chance at recouping those losses. The most important thing right now is to stop the bleeding. Stop trading. Start learning. No no, that's pretty fair. My trading system mainly consists of looking for breakouts on charts. Lots of lines, and reading the MACD/RSIs. I'll admit, i'm not very good at it, and a lot of it consists of hope; but sometimes, I am right... Correct trades will normally net me a decent profit, but the bad trades I never understand how to close, and I am always scared to take losses early, and often let my positions bleed.
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GreatArkansas
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December 15, 2020, 01:50:32 AM |
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No no, that's pretty fair. My trading system mainly consists of looking for breakouts on charts. Lots of lines, and reading the MACD/RSIs. I'll admit, i'm not very good at it, and a lot of it consists of hope; but sometimes, I am right... Correct trades will normally net me a decent profit, but the bad trades I never understand how to close, and I am always scared to take losses early, and often let my positions bleed.
Since you are just starting to trade, try to use small trade position size first, also a small leverage. No need to stop trading, treat those losses as learnings. You need to study more, just like the Risk Management. There are lot of lesson about risk management, blogs or YouTube videos. Since you already have some knowledge in technicals, I think you need more on the psychological sides or emotions as trader. Risk management is a must!
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bitmexscalper100x
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December 15, 2020, 02:36:00 AM |
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Sounds like you need to do a tad more homework and take a break from the trading for like a week. No no, that's pretty fair. My trading system mainly consists of looking for breakouts on charts. Lots of lines, and reading the MACD/RSIs. I'll admit, i'm not very good at it, and a lot of it consists of hope; but sometimes, I am right... Correct trades will normally net me a decent profit, but the bad trades I never understand how to close, and I am always scared to take losses early, and often let my positions bleed.
I agree with the smaller lot sizes and small leverage but if you are trading the ATH you gotta be in and out like a ninja. Since you are just starting to trade, try to use small trade position size first, also a small leverage. No need to stop trading, treat those losses as learnings. You need to study more, just like the Risk Management. There are lot of lesson about risk management, blogs or YouTube videos. Since you already have some knowledge in technicals, I think you need more on the psychological sides or emotions as trader. Risk management is a must! Check out my latest live scalp trade 73 % in 4minutes https://youtu.be/8509W4dJDbY
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bittick
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December 15, 2020, 03:14:29 AM |
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Recovering that much money in such short time definintely gonna be hard and if any the risk would be the same as gambling. Why don't you just try to stake your money and wait for the profit to recover your loss although slowly, isn't it better than losing your money altogether considering as you already said higher risk and leverage?
It seems you're too hasty in your movement and that could spell your doom. Think twice first before doing anything.
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maxreish
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December 15, 2020, 05:09:19 AM |
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The more you chase your losses the more you'll go down. Haven't you integrate stop loss whenever you make an entry? Also, higher leverage is not recommended if you are not really sure about your technical analysis. Lower leverage is less risky and safer than choosing high leverage. Slowly recover your loss by starting with changing the way you read your indicatoes. Perhaps there is a mistake predicting or reading your technical analysis. Make a trading plan like making a goal profit in every trades you make. You will then see that you'll be recovering from your losses slowly.
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AicecreaME
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December 15, 2020, 05:13:58 AM |
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How do I safely recover my losses, preferably over a short period of time?
First is you have to chill up, take things slowly. Second is, you don't have to set a period of time to recuperate your losses, you have to take your time and not rush things out to perform your strategy smoothly. If you last strategy didn't work out, then you have to improve it by studying more and focus only on certain coins to avoid overloading your brain. You need also to to set an amount of how much you can lost to avoid losing even more. For example is if you're entering on a price of $19,000, and the price decreases in $18,900 then you have to sell it then wait for even more dump and wait for another pump to make profits. Because it is risky if you're going to wait for it to pump again after it dropped on $18,900, it might even drop more that'll cause you a loss profit.
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crwth
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Try Gunbot for a month go to -> https://gunbot.ph
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December 15, 2020, 05:37:56 AM |
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First of all, aiming to recover losses in a short period of time is already a losing mindset. That type of mindset would cost you a lot more. Because if you chase your losses, you are going to get more of it. If you have a different type of goal, many of which fails to, it's to ensure that you aim for long-run trading, the steady growth of capital, and risk management to be successful. You have become a gambler, and you traded with your emotion.
If you behave like that, it's better to gamble and not trade because trading requires professional discipline to be successful. Emotionless is the ideal part as well.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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YOSHIE
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December 15, 2020, 07:01:12 AM |
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How do I safely recover my losses, preferably over a short period of time?
You should, before starting to trade crypto, you should first consider the crypto you want to trade, before the losses get bigger and you will be trapped in one of the cryptos that you are trading. You are too quick to conclude to trade, you should, first ask here about the best crypto and good quality on the market, then you make a trading decision. If as you are experiencing at this time it is difficult to say to 'recover' only you can wait and patiently the crypto you are trading rises in passing a little in the level you bought at that time, that's the common way, And you can sell to cover your current losses, if you are impatient and sell, of course the losses will increase over time. If i may know, what kind of crypto are you trading until you have a big loss....!
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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bandungan
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December 15, 2020, 03:45:29 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
To recover your losses you must know where your mistakes were in the past. I am sure you experience a loss, there must be an error in your trading technique, try to observe it and also fix it slowly. although you cannot recover quickly at least you can recover slowly but consistently. so do not rush to recover and use all kinds of means, choose the right and right method in the best time
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Paycoinzzz
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 15, 2020, 04:03:29 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
Actually this is a common cycle of traders on this market. First, you will trade in a very lucky way and you will make a lot of profit from this market. After that, you will fall into a subjective cycle and become greedy; And I'm sure you are on this cycle. Honestly, trading to get back £ 10,000 that you have lost in a short time is impossible. Because your greed will rise again and you will lose again. My advice now is that you should rest for a while, trading in a stressful mindset, the more you will lose. Keep your mind clear and create a new safe trading plan, if you are serious, you will soon get your money back.
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stomachgrowls
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December 15, 2020, 09:14:54 PM |
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--
How do I safely recover my losses, preferably over a short period of time?
-- Thanks. I'll have a look and make some notes. My only issue is that funds are low, so it's very difficult not to go 100% in on high leverage. It is possible that I feel a sense of urgency to get these funds back. When you do still have funds to trade and even if its low then that would be an another challenge and dont or try to remove that sense of urgency because that will really be a major problem. Dont add funds until now because you would lose even more.Try to take up the challenge on growing that little amount of money that you do currently had. Most users who posted on this thread are actually true.We all had experienced the same scenario w hen we are still starting and as mentioned that you do learn up from those mistakes and taking notes will be ideal.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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Jating
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December 15, 2020, 09:51:33 PM |
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It's better to reset and not chase that losses of yours. Just sit down and analyse your trading activity and see where you made your mistakes. Trading is already a journey and you need to re-learn things, you are doing TA, maybe something is not right with your analysis that's why you keep on losing.
I know, it is depressing if you lost around £10,000, but you need to stop at this point to stop the bleeding. Otherwise, your losses will keep piling up and then you will loss control of everything if you keep on trying to recover all your money. Take it step by step again and see how it goes.
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Ridwan Fauzi
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December 15, 2020, 10:22:15 PM |
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This is called a vicious circle by some traders, the first thing thag will don by new trader is spending money to make his capital for trading. He only has money for trading but he has no strategy and some factor that can make him comfortable to trade, he just ignoring them. They trade just only on their lusty, make an entry with high levarage with have no intention where he should buy and sell, just come in any market situation.
If they speculation come to make him get a profit they will be euphoric and think that he can beat the market with all the crazy predictions he has. And as my experience when I just new to trade I'll choose as a scalper because I can make money per day and I targetted $100 in every trade I made. But I just thinking now the strategy is bad, trading is not about how many trade you made in one day but you have to see how many profit that you get. Now, I'll choose one entry and make $100 rather than I make 20 entries and make $100, my psychology will be bad facing that.
Yeah, I guess as some people above me suggested you that you have to stop your habit now. Save the rest of your money, I ever met like your situation now, at that time I made a decision to spend the rest of money to buy some books about trading especially about psychology trading. New trader just focus on their strategy to trade but they will forget about mind and money management. The method just one factor that can make you get a profit, you need two factors to support that.
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sheenshane
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December 15, 2020, 10:26:30 PM |
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How do I safely recover my losses, preferably over a short period of time?
Chasing your loss from trading isn't a good practice, you should set first an amount that you willing to put at risk, no matter what happens win or lose you will never chase it. That's why in trading, there's a saying that trade an amount that you can afford to lose and accept those consequences ahead once there's a failure. Just move on and accept your losses, just sit back and analyze very well your failure which should never happen again. That's my personal advice IMO even though ain't a regular trader but I know how to control my feelings and emotions. Anyway, if you were really desperately wanted to recover your losses it will probably take time for you to do that. There's no way to gain massive profit in just a short period of time, there's a process in it.
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Cryptoababe
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Do it For Better Humanity (Bitget trader)
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December 15, 2020, 10:48:27 PM |
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Hey,
I believe I have caught myself in a loss-chasing cycle. It's gotten to a point where I am now using my overdrafts and my final cryptocurrency investments to try and recoup any losses I have previously made. The lower my funds get, the riskier my trades get, and the higher the leverage used. In total, I have lost just under £10,000. This is becoming more and more depressing as time goes on.
How do I safely recover my losses, preferably over a short period of time?
To avoid loosing to trades or burning out trades. My advice for you is to use low leverages.. And always set stop loss below more than one support level.. If you gain profit with time, you wont need high leverages to earn more and this will reduce your risk of losing in trades.
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error08
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December 15, 2020, 10:56:28 PM |
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How do I safely recover my losses, preferably over a short period of time?
-- Thanks. I'll have a look and make some notes. My only issue is that funds are low, so it's very difficult not to go 100% in on high leverage. It is possible that I feel a sense of urgency to get these funds back. When you do still have funds to trade and even if its low then that would be an another challenge and dont or try to remove that sense of urgency because that will really be a major problem. Dont add funds until now because you would lose even more.Try to take up the challenge on growing that little amount of money that you do currently had. Most users who posted on this thread are actually true.We all had experienced the same scenario w hen we are still starting and as mentioned that you do learn up from those mistakes and taking notes will be ideal. My trading system mainly consists of looking for breakouts on charts. Lots of lines, and reading the MACD/RSIs. I'll admit, i'm not very good at it, and a lot of it consists of hope; but sometimes, I am right... Correct trades will normally net me a decent profit, but the bad trades I never understand how to close, and I am always scared to take losses early, and often let my positions bleed.
The sense of urgency to recover the loss in a short period of time is one of the reasons why you make a hasty and wrong decision. You should set the goal, how much (percentage) you want before selling the coins, and vice versa set the stop loss, don't let your coins in bleed position for a long time and fall too deep, if your research indicates it will fall and will take a long period to recover, sell it at once. And the main point is to choose the right coins, it's something that we have to do, due diligence, to determine which coin to buy and sell at the right time.
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